[§514B-124]  Association
meetings; purchaser's right to vote.  The purchaser of a unit pursuant to a recorded
agreement of sale shall have all the rights of a unit owner, including the
right to vote; provided that the seller may retain the right to vote on matters
substantially affecting the seller's security interest in the unit, including
but not limited to, the right to vote on:



(1)  Any partition
of all or part of the project;



(2)  The nature
and amount of any insurance covering the project and the disposition of any
proceeds thereof;



(3)  The manner in
which any condemnation of the project shall be defended or settled and the
disposition of any award or settlement in connection therewith;



(4)  The payment
of any amount in excess of insurance or condemnation proceeds;



(5)  The
construction of any additions or improvements, and any substantial repair or
rebuilding of any portion of the project;



(6)  The special
assessment of any expenses;



(7)  The
acquisition of any unit in the project;



(8)  Any amendment
to the declaration or bylaws;



(9)  Any removal
of the project from the provisions of this chapter; and



(10)  Any other
matter that would substantially affect the security interest of the seller. [L
2004, c 164, pt of §2]